Field of the Invention
The present invention relates to a method and system for electronic ordering, invoice presentment, and payment.
Background of the Technology
There exist in the art paper-based methods and systems for payment of invoices, but these systems are typically slow and costly for completing transactions. Automatic payment approval and presentment processes are also known, in which electronic invoices are provided and approved, but these processes do not include all functions necessary for completion of a transaction (including, for example, payment). It is further known to provide electronic payment approval and dispute resolution processes, but without other necessary features for completion of a transaction.
There remains an unmet need in the art to provide a wide range of electronic ordering, invoice presentment, and payment functions within a single method and system, which are useful, for example, for large organizations, such as mortgage service companies.